Minimally Invasive Glaucoma Surgery (MIGS) Devices Market Overview:

The Global Minimally Invasive Glaucoma Surgery (MIGS) Devices Market was valued at $144 million in 2016, and is expected to reach $912 million by 2023, registering a CAGR of 30.1% from 2017 to 2023. Minimally invasive glaucoma surgery (MIGS) devices can be are employed in any glaucoma surgery that avoids conjunctival dissection, and includes an ab interno incision for the treatment of patients suffering from glaucoma. The advent of MIGS devices has transformed the patients care with mild-to-moderate glaucoma conditions. In addition, improved safety profile as well as less time required for recovery after surgery as compared to more invasive techniques increases the demand for MIGS devices. This propels manufacturers to introduce efficient MIGS devices such as stents, shunts, and minimally invasive implants in the market. Moreover, glaucoma is the primary cause of irreversible blindness across the globe, and it was estimated that around 4% of the global population suffered from glaucoma in 2014. This has increased the demand for MIGS devices in the treatment of glaucoma.

The key factors that boost the market growth include rise in burden of geriatric population that is susceptible to glaucoma. In addition, meta-analysis performed in 2014 concluded that number of people suffering from glaucoma is projected to increase over the years especially in the countries of Asia-Pacific, and Africa. Moreover, rise in demand for surgeries combining glaucoma, and cataract boosts the market growth.

However, unfavorable reimbursement for minimally invasive glaucoma surgery devices is anticipated to hamper the market growth. Further, high preference displayed by patients for surgical treatment of glaucoma as compared to glaucoma medications offers lucrative opportunities for the growth of the market.

Based on surgery, the minimally invasive glaucoma surgery (MIGS) devices market is divided into glaucoma in conjunction with cataract and stand-alone glaucoma. Glaucoma in conjunction with cataract segment dominates the global MIGS market in 2016, and is anticipated to maintain this dominance throughout the forecast period. However, increase in research on the potential of stents in reducing the IOP during stand-alone glaucoma surgeries is witnessed in the recent years. This contributes to the robust growth of the stand-alone glaucoma surgeries segment in the global MIGS devices market.

The minimally invasive glaucoma surgery (MIGS) devices market segmented based on product, is divided into MIGS stents, MIGS shunts, and other. Other products utilized in minimally invasive glaucoma surgeries include new laser procedures, micro implants, and microcatheters. MIGS stents segment generated the highest revenue in 2016, and is anticipated to maintain the trend throughout the forecast period. Stents are utilized on large scale in the minimally invasive glaucoma surgeries. The most widely accepted stents include iStent (Glaukos Coproration), CyPass MicroStent (Alcon/Novartis), and Hydrus Microstent (Irvine).

Based on geography, the minimally invasive glaucoma surgery (MIGS) devices market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America dominated the market accounting for highest share in 2016, and is anticipated to continue its dominance throughout the forecast period. Whereas, Asia-Pacific registered fastest growth from 2017 to 2023.

The study provides an in-depth analysis with the current trends and future estimations of the global minimally invasive glaucoma surgery (MIGS) devices market to elucidate the imminent investment pockets.

Comprehensive analysis of the factors that drive and restrict the market growth is provided.

The quantitative analysis of the industry from 2016 to 2023 is provided to enable the stakeholders to capitalize on the prevailing market opportunities.

Extensive analysis of key segments of the industry is provided to understand the types of minimally invasive glaucoma surgery (MIGS) devices used globally.

Key players and their strategies are analyzed to understand the competitive outlook of the market.

3.5.1.1. Rise in the geriatric population along with increasing prevalence of glaucoma worldwide
3.5.1.2. Increase in focus of key players in the development of MIGS stents
3.5.1.3. Rise in the demand for combined glaucoma and cataract surgeries

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Glaucoma is the primary cause of irreversible blindness, and open-angle glaucoma is the most common type of glaucoma occurring worldwide. According to the statistical analysis published in the British Journal of Ophthalmology in 2016, primary open angle glaucoma (POAG) is the most common type of glaucoma accounting for three-quarters of all glaucoma cases. The traditional incisional procedures are associated with short-term as well as long-term complications such as treatment failure due to scarring, secondary cataracts, and endophthalmitis. Thus, minimally invasive glaucoma surgeries serve as an effective alternative approach for the treatment of glaucoma.

MIGS stents generated the highest revenue in 2016, and are anticipated to maintain their dominance throughout the forecast period. MIGS surgeries have most commonly incorporated stents that can cause a drainage of fluid into the suprachoroidal space to maintain intraocular pressure. Moreover, the preference of MIGS devices for the treatment of glaucoma has elevated over the years owing to the risk of allergies as well as infections associated with the glaucoma drugs, and too much dependency on medicines. Rise in the geriatric population along with increase in prevalence of glaucoma worldwide along with rise in focus of key players in the development of novel MIGS stents are anticipated to drive the market growth. However, reimbursement barriers regarding MIGS devices and dearth of skilled professionals hamper the market growth.